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on november comps. gap, macy's, target, all disappointing. is it all due to sandy and what does it mean for the holidays. >> tiffany is not a statement on lucksy, but rather company specific. >> quite near meets with the president today. . >> and we have another upgrade for research in motion. this time at goldman-sachs saying the blackberry 10 will not only beat expectations but also put the company in the black by fiscal '14. >> target, macy's and kohl's reporting unexpected declines. number of retailers blaming sandy for the lackluster results, david and jim. they say the second half of the month wasn't so bad, but still a lot of white knuckles as somebody said about the holidays. >> i think that one of the untold stories may still be exactly how bad sandy was. sandy is going to turn out to be a $100 billion storm. but i think it's a shutdown. it was the shutdown of a major part of the infrastructure of the nation. i'm going to go with the retailers who blame sandy. i'm going to take them at face value. >> so macy's they say record setting volume when it comes to thanksgiving, but th
? >> retailers like macy's finally quantifying the effect of hurricane sandy. walmart kicking off black friday earlier than ever. we start this morning with the markets looking to bounce back from yesterday's selloff and nearly 1313 drop in the dow. europe on wall street's radar after the ecb and bank of england kept key rates unchanged. draghi holding a press conference right now saying he sees economic rekafr ri remaining weak and reforms are crucial to boosting growth potential on top of greece passing an unpopular package of austerity measures on wednesday and necessary for greece to receive another round of international financial aid. china's ruling communist party congress con vealing today in a leadership change. so much to digest overseas, jim. what came out of the ecb is expected. came out of greece seems to be largely expected. but spain still resisting. a bailout. that's trouble. >> i know. every day the crucial -- that's the crucial link. you have to give them the good loans. take away the bad loans. create a situation of two banks and they're gone from 760 to 708. i think that th
think the numbers are awful. >> sandy and fiscal cliff, a powerful combination. >> i don't want to shop. what does that mean if i don't want to shop. >> all retailers are doomed. >> frightening concept if i don't want to shop. >> i don't believe it. i can't believe it. >> i can't seen summon taking my debit card -- i wanted to go to the mall -- >> if that's not enough to get lawmakers' attention, i don't know what is. >> rise above, congress. that's what that says. >>> groupon tumbling market. missed wall street forecast. blaming weakness in europe for the shortfall. the stock has fallen more than 80% so far this year up. take a look at any metric and what you're seeing over the past three quarters there's a market decline in everything. in every important metric of its business there's a decline, including revenue growth. >> one of my favorite lines in this, what i regard as being almost a -- those remembering the dear soviet union they would put out -- soviet troops doing well in afghanistan. the best line is as discussed in our last call to understand the numbers, you have to dig bel
attention to the northeast and weather. a week after being battered by sandy, storm stricken areas are bracing for a nor'easter as hundreds of thousands do not have power and a new flooding threat looms. want to check in with meteorologist todd gross back at hq. >> it's more than that. there's a real threat of significant snow in the new york metropolitan area and that's one of the things we're going to be discussing because there are still leaves on the trees, my friends, and that does not bode well as we saw one year ago when you have leaves on the trees and wet snow, it can be a major player in how the storm ends up. i'll explain what i mean. first of all, if you look at the satellite and radar combined, you can see the bright colors moving in on long island and moving in on new jersey. that is the actual first wave of precipitation coming in from this knockout nor'easter. there's already big winds from the storm. the big winds are in eastern massachusetts. nantucket gusting to 50 miles an hour already. there may be minor coastal flooding from the jersey shore through long islan
sandy. >> i thought that the ceo of pbh told an amazing story. a gigantic number of stores were taken out by sandy and yet he still was very confident about the numbers. i will say -- i've been very negative about jcpenney and stocks not doing anything, he did say pointblank that jcpenney had a really good, really good black friday. >> really? >> i want you to remember, jcpenney is going big using a heritage brand that had plus seven comp number. i have to point it out. i've been negative on jcpenney. what he said was he has seen some acceleration of sales there. i don't know if that means profits. >> how narrow is that in terms of their channels and does it -- as we watch jcpenney shares reversed on your remarks just now. >> knight capital reversed on your remarks. >> my remarks were based on something that was happening. >> that shows you that people watch this show more than -- i think it's emblematic -- i was in jcpenney recently. i bought a really nice hat. for weather like we had yesterday. a lot of what's happened at jcpenney is to embrace the brands not unlike what macy's has
of things. sandy continues to make me feel these numbers are too difficult. i find them unfathomable. the speech is about way too much unemployment and very unfathomable in terms of the actual destruction. you got numbers from two different governors. they are unusually low. i don't trust any number during this period. >> especially the number we'll get a week from today which estimates for nonfarm are not that good. 75 maybe. sandy will continue to ring in our ears for the next few weeks. >> and then i believe you're going to get when you get supplies rebuilt and enough bricks and enough lumber. did you see that lumber hit a six-year high yesterday. >> wow. >> copper. a lot of people talking about short buy on copper. everyone saying it's about china. a lot of copper comes from scrap and the scrap in the northeast where there's a huge amount of copper, it's extraordinary. a lot of equipment is stalled. >> think of the copper wires here downtown eroded because of exposure to salt water that need to be replaced. >> when i hear the things that have been thrown away, the 500,000 cases o
to third quarter gdp on thursday. here with what to watch for including effects from superstorm sandy is steve liesman. >> good interview on blackberry. a week to pay attention to the data. it will be affected by hurricane sandy making it difficult to figure out underlying momentum. gdp is not one of the data points. we put an asterisk next to data potentially affected by sandy. some worry that markets won't see through sandy effects and could walk away with a bearish look. there's durable goods potential effect there down 1.3% after a surge the prior month. consumer confidence, probably not. new home sales certainly in the northeast have potential. moving on to thursday. jobless claims. definite potential there and pending home sales. not gdp. this game at the end of the quarter or after the quarter had ended. now let's look at jobless claims data here. do we have that? i think we do. there we go. there's hurricane sandy. hurricane katrina. you can see it's following a very, very similar pattern there and the expectation is that it will come down again on thursday to 390,000. one mor
with a statement at the top saying sandy reduced industrial production output by nearly 1 percentage point so the bottom line is the industrial production would have been above expectations were it not for sandy. and a lot of people took a while for them to read that. i think that helped turn the markets around a little bit right now. elsewhere, the sectors hit hard by concerns of the fiscal cliff on the downside today. it's been an ugly week for industrial trust. down 6% since the election. the association met this week in san diego. had an annual meeting and my understanding is fairly downbeat. a little bit of concern. even though the fundamentals of real estate doing well. supply is muted. capital is cheap. in theory, not a bad time to be in the real estate business. utilities down more than 6%. they were hurt by sandy a little bit. the northeast ones. there's a one-month chart. finally today, a positive print on the overall utilities but a rocky road for them and same situation with telecom. they're the most affected by the fiscal cliff issues. telecom down about 5.5% since the election b
, simon, i think right now things are changing and we remain to see the effects of sandy on the data. >> let me return to this subject of why the consumer remains so strong. do you think the average american is aware of what the fiscal cliff is when you look at the numbers that watch television news or read newspapers and the degree to which they may not have spoken about that subject during the election campaign and most people thought by taxing rich we would solve problems we have in america and people have no idea that general low income americans have no idea i would suggest that the fiscal cliff is on its way. no wonder they are out there spending money. no wonder. >> i wouldn't make a distinction between what low income americans or high income americans know less than anyone around the scale. on the other hand, simon, it may be that people think they'll solve this problem and it's not going to affect them given the pledge by the president not to allow the tax increases and spending cuts to hit people $250,000 and below. that's a distinct possibility. i would also point out, si
Search Results 0 to 8 of about 9